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is the only way of stabilizing debt. the sink guegle biggest driver medicare. so if we don't make those tough decisions now, all we've done is a european style kick the can down the road and, you know, it's tough to cut entitlements and it's tough to cap deductions. austerity doesn't have to look like just taxing your way out of it. if you want to not work, you just tax your way out of it. >> i think we have to remember that this is politics and not economics going on here. that's the most important thing i think people have to remember. and we know we want more revenue and cut spending. that's why we have the problem to begin with. you have to accept that issue. le politicians aren't willing to accept that issue yet. both are at extremes. if you accept they're both at exseee extre extremes, how did we raise revenue. because the politics, not because of economics, they will not raise marginal rates. >> although we have heard some people say they would go along with that. >> i agree. the center is actually saying that. but i think -- so if the democrats know that, which everybody knows, give o
and come down to the least acceptable thing for everybody involved is reducing medicare spending. you want to know how to fix the fiscal cliff? you have to raise taxes on those 250 above and cap deductions and a cap in deductions on everybody loon looks to be marginally acceptable. we'll have a chance to talk about that chart later but i hear you have some interesting guests on this issue coming up. >> we're talking about that chart and will catch you up later. also the joint economic committee will hold a hearing on the fiscal cliff. can congress come up with a compromise before the looming deadline? senator robert casey and jec vice chairman tom brady joins us from texas. thank you for being here. you have a lot of things happening behind the scenes. senator casey, i know you have said what we're watching is a lot of drama and probably taking our eye off the ball in terms of what's happening. can you tell us if there's progress being made behind the scenes? >> i think there's a little bit too much attention paid to the back and forth every day. there's still a long way to go here and fra
medicare. we've passed cut cap and balance. the democrats have shown us nothing other than how them's increase taxes by about $75 billion when economic growth will return $750 billion. >> ron, try that line, here's the pen, i'll sign it if -- say i got a pen i can lend you, mr. president forks that pen that you have that will sign -- i let him have the floor. i can say what he said. but $75 billion. we're doing back flips about $75 billion and we have a trillion dollar problem. but that's all you hear. people nodding behind him. $75 billion out of a trillion. that's all we're talk about. and no interests in talking about anybody else. >> and they take entitlement reform off the table. labor leaders were pleased when they left the white house. president obama, show us your plan, show the american people your plan. >> senator, thank you. >> thank you. >>> coming up, what negotiations in washington mean for trading on wall street. we'll ask the man who manages more than $150 billion next. >>> coming up, what negotiations [ male announcer ] at scottrade, we believe the more you know, th
proposal raises the eligibility age for medicare up a couple years. it trims the cost of living increases for social security. and it brings in $800 million through tax reform. but it keeps bush era tax cuts in place for all taxpayers and that's something that the president says he will veto. a new player may be entering the takeover bidding for night capital. the journal reports that it's in you can takes to join vertu financial bid. virtu and get cco have offers o the table. and big lots reporting a loss of ten cents a share. full year profit forecast still above street consensus. >> let's take a look at the futures. at least at this point are indicated higher. dow futures up by about 13 points above fair value. s&p higher, as well. nasdaq up by 4. yesterday dow down low to 60 points. and you did see stocks close right near the lows of the day. dow and s&p 500 were down for the first time in four days. also take a look at what's happening in europe. we spoke with ross a little earlier and you can see that right now there are modest gains there. in france, the cac up by about 0.7%. much
Search Results 0 to 3 of about 4